Importance of Culture in Conduct
Regulators around the world are continuously driving culture improvements, this has only grown in significance since the changes caused by the COVID-19 pandemic. In this video, Roger will discuss a few of the signs indicating the shift towards a culture focus, and also discuss how a firm's purpose may have changed during the pandemic.
Overview
Regulators have pushed forward with their global project of extending conduct controls into new territories. They have been putting their new tool, culture audit, into practice. Regulators, such as the FCA in the UK and The Dutch central bank, De Nederlandsche Bank have culture programmes in full swing. The Covid pandemic has had a significant impact on how financial firms behave and this has led to a number of considerations from regulators, such as the levels of stress workers have experienced and the new economic landscape.
Key learning objectives:
Identify the conduct and culture themes within financial firms that regulators focus on
Understand how the regulators assess whether a firm is ‘purposeful’
Summary
Expert
Roger Miles
Roger researches behavioural risks in organisations, and advises senior leaders on how best to communicate risk and conduct matters. Previously, Roger ran risk communication programmes for professional bodies and the British Government. He now runs industry-level Academies for Conduct and Culture, and produces workshops with financial firms.
